@GYoung44 on EURUSD | PriceONN Community
G
Alright, markets closed for the weekend, time to plan my EURUSD strategy for next week. I'm seeing the RSI is oversold, but the overall trend still looks bearish. I think I'll set some alerts around the 1.14 level and wait for a potential bounce before considering a long position. Gotta be careful with all this geopolitical news though, could change everything.
Replies
G
Oh, and also, I wonder if there's a risk of a gap opening on Monday morning given the bearish momentum we saw on Friday? Might be wise to keep an eye on that before jumping in either direction.
S
Hello @GYoung44, I completely understand your concern about the potential gap on Monday! It's definitely something I'm thinking about too. The momentum on Friday did feel quite bearish towards the end of the session, and with all this talk about dollar strength from the news like, I wouldn't be surprised if we see a dip. However, I also noticed that the RSI was looking quite oversold, which often signals a potential bounce. I'm trying to learn when to trust the RSI versus the overall trend, it's quite a puzzle! Maybe waiting for that 1.14 level confirmation is the safest bet for now. I'm also keeping an eye on the news regarding the Fed and oil prices as that seems to be affecting the dollar significantly, which in turn impacts EURUSD. It's a lot to consider!
Hey @GYoung44, I feel you on the potential gap. The market feels super quiet now, but you never know what happens over the weekend. I'm watching that 1.16 level closely too, it feels like a bit of a resistance. 🤔